FTSE 250 movers: BTG and IG Group on the decline
28th Jan 2011 15:56
BTG is on of the heaviest fallers despite yesterday's announcement that the speciality pharmaceuticals developer expects its recurring revenues will grow by £5m following the Biocompatibles acquisition. IG Group is following suit after the its was reported yesterday that the spreadbet firm has one
Read moreIG Group latest to receive FSA compensation bill
27th Jan 2011 13:24
Spreadbet firm IG Group has one month to pay £4m into the Financial Services Compensation Scheme to help refund retail investors who lost money they had in firms that collapsed last year. The invoice is in addition to the £1m provisioned for and, although the company is certainly able to afford it,
Read moreWednesday tips round-up: Burberry, Pearson, Chemring...
19th Jan 2011 06:40
The extraordinary rise of Burberry, since the brand was reinvented and rescued from chavdom, appears to be accelerating. Like-for-like sales in the first half of the financial year were 9% ahead; in the third quarter, including Christmas, they were up 14%. The shares, below six quid at the start of
Read moreLondon close: Shares buoyant as updates impress
18th Jan 2011 16:42
The top share index closed near its highs, helped in part by well-received company updates. Burberry was in fashion after bumper demand for outdoor coats and other luxury accessories meant a storming third quarter for the luxury goods group, with revenue up by 30% and profits now set to hit the top
Read moreFTSE 250 movers: Taylor Wimpey at 8-month high
18th Jan 2011 15:42
Taylor Wimpey has hit an eight-month high after the housebuilder today confirmed it is in the early stages of evaluating a number of approaches for its North American business. "We will update the market as appropriate in due course and there is no guarantee that any transaction will be concluded,
Read moreLondon afternoon: Gains get trimmed
18th Jan 2011 14:35
Share prices came off the boil over the lunch time session though Footsie remains firmly in the red, as things continue to look rosier in the eurozone. Burberry is in fashion after bumper demand for outdoor coats and other luxury accessories meant a storming third quarter for the luxury goods group
Read moreLondon midday: Shares keep gains
18th Jan 2011 12:17
The top share index remains buoyant as mining sector strength and company updates attract buyers. Miners are strong led by Vedanta, Kazakhmys and ENRC.Rio Tinto's global iron ore operations set a new quarterly production record in the final three months of 2010. The group produced 65m tonnes in the
Read moreLondon open: Footsie back over 6,000
18th Jan 2011 08:49
Blue chips have rallied following a strong performance in Asia this morning, renewed demand for the miners and some good trading updates. Brewer SABMiller helped more drinkers in Africa and China quench their thirst during the third quarter, sending organic lager volumes up 3%. The owner of Peroni
Read moreIG needs pick-up to hit full year expectations
18th Jan 2011 07:15
Spread betting firm IG Group fell into the red at the interim stage after taking a hit on the value of its troublesome Japanese business. Adjusted profit before tax in the six months to 30 November rose 5% to £81.6m from £78.0m the year before, but on a statutory basis the group posted a loss of £6
Read moreTuesday preview: SABMiller, Burberry, inflation
17th Jan 2011 15:40
A number of alcoholic drinks-related companies are due to release trading updates this week, and brewing giant SABMiller is first to the bar on Tuesday. The global operator recently advanced into territory dominated by the world's biggest brewer, Anheuser-Busch Inbev, with the purchase of CASA Isen
Read moreIG Group appoints FD
14th Dec 2010 08:26
Spread bet group IG has appointed Christopher Hill as its new finance director. He starts in the role on 26 April next year. Hill, aged 39, is currently the chief financial officer of Travelex, a group providing cross-border payment and foreign exchange services to corporate and individual clients
Read moreBroker tips: Centrica, Chi-Med, IG Group
10th Dec 2010 13:29
Although estimates have been scaled back, Nomura retains its positive stance on Centrica as the company is best placed to benefit from the changes of the energy and home services industry. The broker maintains that the utility group will be its top pick in 2011, as it will be able to adapt from UK
Read moreBroker snap: IG's progress depends on the US
10th Dec 2010 12:30
While many of IG Group's markets have extended growth, finnCap thinks the key markets in terms of achieving earnings upgrades are Japan and the US. The spread-betting company's pre-close revenue guidance released Thursday is line with the broker's expectations with UK revenue rising by 4%, Australi
Read moreFTSE 250 movers: Ashtead leads the market higher
9th Dec 2010 15:06
Top of the list on Thursday afternoon is equipment hire firm Ashtead which said growing sales in North America lifted second quarter sales but it warned end markets remain fragile. Underlying pre-tax profit rose 49% to £18.1m in the second quarter ended 31 October 2010. Revenue advanced 9% to £245.2
Read moreIG Group revenues rise 9%
9th Dec 2010 13:45
Spread-betting company IG Group saw a 9% jump in first half revenue despite a number of regulatory hurdles in Japan and the US. Sales will reach £157m in the six months to November, with mainland Europe driving the improvement. As a whole, revenue in IG's European is up 24% to £27m, with Germany t
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